A 22-acre former oil terminal site near Olde North Charleston is being eyed for a large-scale, mixed-use development with a waterfront hotel, apartments, and office and restaurant space.
Preliminary plans call for an eight-story inn with 250 rooms, three four-story apartment buildings over parking with a total of 750 multifamily units, three five-story office buildings offering 500,000 square feet altogether, two five-story parking garages, and up to 35,000 square feet of restaurant space.
One of the parking decks and office buildings would face Virginia Avenue along with separate restaurant structures, according to plans presented to the city.
David Maybank III of Maybank Properties in Charleston owns the idle Shell Oil facility tract that extends from Virginia Avenue to the Cooper River. A smaller parcel housing Streit USA Armoring, an armored car assembly business off East Montague Avenue, also is involved in the plans. Maybank owns that property as well.
Maybank said he is selling the property and is not involved in the development.
The prospective buyer is Charlotte-based real estate developer White Point, which has been involved in other developments in the Charleston region, including Foundry Point Apartments off Morrison Drive and The Quin, a five-story office project near the US Foods Chef'Store on the upper peninsula.
The Quin was formerly going to be called Belvidere, a nod to a former nearby plantation, but the name was changed amid the current social unrest in the nation. The Quin is a play off Algonquin Street, which runs next to the site.
For now, the firm is staying mum on the waterfront project.
"White Point ... is not yet ready to comment on the planned development but is excited about the opportunity in North Charleston," spokeswoman Laura Graff said in a written statement.
Maybank will ask the city's Planning Commission on Monday to consider changing the land use on the two parcels at 1002 E. Montague Ave. and 4900 Virginia Ave. for a new project that for now is being called the "Terminal Mixed Use" development.
The property is currently zoned for heavy industrial uses, but the project can't move forward without a land-use change for a planned development district.
Five above-ground storage tanks sit on the site along with some small buildings, and about four acres of the property is wetlands that cannot be developed, according to the rezoning application.
Plans call for the development to take place over the next five years, with completion by 2024.
"In a vibrant area of the city where access and utilities are already in place for former industrial-style development, the Terminal Mixed Use Planned Development District serves as a segue to a more pedestrian-style environment consistent with the goals and vision of other developments in the area," according to the project proposal.
Across the street from the proposed project sits the former Garco Mill, an old asbestos-making plant redeveloped into a mix of uses near the East Montague business district.
The terminal project proposal also points out that the mix of uses could change as it wends its way through city review channels.